Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Drops By 30.8%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 900 shares, a decline of 30.8% from the May 31st total of 1,300 shares. Based on an average trading volume of 5,100 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, April 19th.

Avidbank Stock Performance

Shares of OTCMKTS AVBH opened at $18.44 on Friday. Avidbank has a one year low of $16.01 and a one year high of $22.00. The firm has a market capitalization of $144.20 million, a P/E ratio of 6.86 and a beta of 0.67. The company’s fifty day moving average is $18.83 and its two-hundred day moving average is $19.34.

Avidbank (OTCMKTS:AVBH) last issued its earnings results on Wednesday, April 17th. The company reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. The company had revenue of $35.94 million for the quarter, compared to analyst estimates of $19.84 million. On average, sell-side analysts forecast that Avidbank will post 2.71 earnings per share for the current fiscal year.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties. The company offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.